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Calculate the payables turnover ratio

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Problem 1: The SOS Company has Current Assets of $1000, Current Liabilities of $600 and Accounts Payables of $300. The company's Cost of Goods Sold is $3580.50, its Inventory increased by $40, and its Accounts Payable were $365 the prior year. Calculate the Payables Turnover ratio.

A) 10.77
B) 10.89
C) 18.10
D) 9.92

Reference no: EM132790196

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